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Frasers flags further asset writedowns as third wave likely to trigger new Covid-19 restrictions
StockMarketWire.com
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Frasers group, formely Sports Direct, reported flagged a further writedown in excess of £200 million to its assets owing the pandemic impact as it envisaged a third-wave of Covid would result in further Covid-19 restrictions.
'In our ongoing assessment we note the continuing Government and Government advisor pronouncements regarding "third waves" and normality being "some way off", meaning further restrictions are in our view almost certain,' the company said.
'Any such impairment would be in addition to impairments included in the half year results announced on 10 December 2020, and is expected to be included, subject to audit, with the company's results for the financial year ending April 2021,' it added.
Story provided by StockMarketWire.com
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